The Rajasthan High Court refused to grant bail to a person accused of wrongfully availing Input Tax Credit (ITC) to the tune of Rs.108.36 Crores.
The Petitioner, Mr. Vivek Raj Singh Bajwa has filed a third bail application for the offense under Sections 132(1) of Goods and Services Tax Act, 2017.
It is contended by counsels for the petitioner that the sentence provided for the offense is five years. Petitioner has remained in custody for a period of one year. It is contended that in similar types of cases, bail has been granted. It is also argued that the matter is still at the stage of pre-charge evidence.
The Public Prosecutor and counsel for Union of India have opposed the bail application and stated that the petitioner has created 26 firms to facilitate availment and utilization of input Tax Credit to the tune of Rs. 108.36 crores.
The single-judge bench of Justice Pankaj Bhandari after considering the contentions put forth by counsel for the Union of India refused to entertain the third bail application.
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